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GDP- Gross Domestic Product
GNI- Gross National Income
GNP-Gross National Product
Aggregate demand is the total amount of real GDP the consumers, firms, the government and foreigners want to by at each possible price level, over a particular time period.
The Aggregate demand shows the relationship between the GDP and the economy's price level.
The AD curve has a downward slope indicating a negative relationship between price level and GDP:
The Wealth Effect
Negative causal relationship between price value and real value wealth.
The interest rate effect
The international trad effect
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- International Baccalaureate Economics Note on Class Notes , created by Judy Asman on 07/06/2016.
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- Judy Asman
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